March 2008/1

Amlin reinforced its position as a leader among the quoted Lloyd's insurers with "record" results that included a 30 percent leap in pre-tax profits to £445mn and a lowly 63 percent combined ratio.

London market broker Glencairn dragged the 2007 earnings of parent US broker Hilb Rogal & Hobbs' (HRH) down by $0.11 per share, it was revealed last week.

As broadly healthy earnings continue to be set against the threat of the softening market, AM Best has affirmed its stable outlook on the reinsurance sector, with a minority of upgrades and downgrades expected to balance out...

A further symptom of the impact of the sub-prime crisis has emerged, with the hardening of directors’ and officers’ (D&O) rates for financial institutions, according to new research.

The Financial Services Authority (FSA) is reviewing claims handling in the UK run-off market but denies this reflects concerns about standards among some legacy insurers.

UK general insurer Royal & Sun Alliance (RSA) bounced back to a profit of £638mn for 2007 despite taking a hit from last summer's UK floods.

The Association of Run-off Companies (ARC) is canvassing members over the proposed development of a capital adequacy model to help firms in run-off deal with Solvency II requirements.

Bermuda could be in line for an influx of financial guarantee reinsurers following the sub-prime mortgage crisis, according to The Bermuda Monetary Authority (BMA).

Lloyd's insurer Chaucer Holdings plc has struck a deal to close Heritage Managing Agency Ltd's Syndicate 1245 into its own Syndicate 1084.

The dramatic lowering of SCA’s rating by Standard & Poor's (S&P) last week from AAA to A- was part of a series of actions by the ratings agency on the troubled bond insurance sector, which has been beset by sub-prime related losses.

Losses from the global credit market crisis are set to top $600bn, with banks and brokers accounting for over half that figure, according to UBS analyst Geraud Charpin.

New York-based hedge fund Institutional Credit Partners (ICP) has been dismissed from Canadian conglomerate Fairfax Financial Holdings lawsuit against it and a number of other funds.